Rhode Island Employee Stock Purchase Plan of Charming Shoppes, Inc.

• Category: Corporations - Public - Employees
• State: Multi-State
• Control #: US-CC-19-119
• Format: Word; Rich Text

Description

19-119 19-119 . . . Employee Stock Purchase Plan under which each employee can contribute from 1% to 10% of earnings through payroll deductions, and contributions are credited to account maintained on behalf of each employee by brokerage firm designated as custodian under Plan. So long as Plan is operated as "discount plan", corporation will sell shares directly to custodian at a price equal to lesser of 85% of fair market value of common stock at beginning of offering period or 85% of fair market value of common stock on purchase date. If Board designates Plan as a "matching plan", such discounted sales by corporation would be discontinued, but corporation instead would make matching contribution equal to 15% of employees' payroll contributions to be used by custodian to make market purchases of common stock at or promptly after purchase date The Rhode Island Employee Stock Purchase Plan (ESPN) of Charming Shoppes, Inc. is a unique and beneficial program offered to employees working in Rhode Island. This plan allows eligible employees to purchase company stock at a discounted price, encouraging them to become shareholders and share in the company's success. Charming Shoppes, Inc. is a renowned retail company that operates various clothing stores, including Lane Bryant, Fashion Bug, and Catherine's. They have established the Rhode Island Employee Stock Purchase Plan to involve their employees in the company's growth and profitability. The Rhode Island Employee Stock Purchase Plan offers different types of purchase options to employees. It typically allows employees to contribute a portion of their pre-tax income towards purchasing company stocks. The contributions are deducted from their paychecks over a specific period, usually six months. The stock purchase options in the plan include the Grant Date Purchase, where employees can buy shares at a discounted price that is often lower than the market value. The Accumulation Purchase allows employees to accumulate their contributions over time and purchase the company's stock at the end of the offering period. The Look back Purchase option grants employees the ability to purchase shares at a discounted price based on either the beginning or ending stock price, whichever is lower. Participating in the Rhode Island Employee Stock Purchase Plan provides employees with the potential to build their wealth by owning a piece of the company they work for. By purchasing stocks at a discounted price, employees not only benefit from potential stock appreciation but also receive dividends on their ownership interest in the company. Moreover, the ESPN promotes a sense of loyalty and motivation among employees, as they have a vested interest in the company's success. It creates an alignment of interests between the employees and the company, fostering a stronger and more dedicated workforce. The Rhode Island Employee Stock Purchase Plan of Charming Shoppes, Inc. offers a valuable opportunity for employees to invest in the company and reap the rewards of their hard work. By participating in this program, employees can build their financial future while being part of the growth and prosperity of Charming Shoppes, Inc. Key phrases: Rhode Island Employee Stock Purchase Plan, Charming Shoppes, Inc., ESPN, employee benefits, discounted stock purchase, ownership interest, stock appreciation, dividends, investment opportunity, financial future.

The Rhode Island Employee Stock Purchase Plan (ESPN) of Charming Shoppes, Inc. is a unique and beneficial program offered to employees working in Rhode Island. This plan allows eligible employees to purchase company stock at a discounted price, encouraging them to become shareholders and share in the company's success. Charming Shoppes, Inc. is a renowned retail company that operates various clothing stores, including Lane Bryant, Fashion Bug, and Catherine's. They have established the Rhode Island Employee Stock Purchase Plan to involve their employees in the company's growth and profitability. The Rhode Island Employee Stock Purchase Plan offers different types of purchase options to employees. It typically allows employees to contribute a portion of their pre-tax income towards purchasing company stocks. The contributions are deducted from their paychecks over a specific period, usually six months. The stock purchase options in the plan include the Grant Date Purchase, where employees can buy shares at a discounted price that is often lower than the market value. The Accumulation Purchase allows employees to accumulate their contributions over time and purchase the company's stock at the end of the offering period. The Look back Purchase option grants employees the ability to purchase shares at a discounted price based on either the beginning or ending stock price, whichever is lower. Participating in the Rhode Island Employee Stock Purchase Plan provides employees with the potential to build their wealth by owning a piece of the company they work for. By purchasing stocks at a discounted price, employees not only benefit from potential stock appreciation but also receive dividends on their ownership interest in the company. Moreover, the ESPN promotes a sense of loyalty and motivation among employees, as they have a vested interest in the company's success. It creates an alignment of interests between the employees and the company, fostering a stronger and more dedicated workforce. The Rhode Island Employee Stock Purchase Plan of Charming Shoppes, Inc. offers a valuable opportunity for employees to invest in the company and reap the rewards of their hard work. By participating in this program, employees can build their financial future while being part of the growth and prosperity of Charming Shoppes, Inc. Key phrases: Rhode Island Employee Stock Purchase Plan, Charming Shoppes, Inc., ESPN, employee benefits, discounted stock purchase, ownership interest, stock appreciation, dividends, investment opportunity, financial future.